Tag: Healthcare M&A Japan
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Japan Medical Device M&A: Group Carve-Outs, Distributor Consolidation and Private Equity Take-Privates
(Updated October 2026. USD figures are converted at USD/JPY = 150 for reference unless otherwise stated.) Domestic shipments of medical devices in Japan reached ¥4.72tn (~USD 31.5bn) in 2024. In Japan medical device M&A over the past several years, large Japanese groups (Hitachi, JEOL, Teijin and Olympus among them) have sold medical device businesses or…
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Japan Pharmaceutical Distribution M&A: Regional Wholesalers Absorbed by the Majors, Medical Device Dealers Merging and Foreign Entry in Adjacent Fields
(Updated October 2026. USD figures are converted at USD/JPY = 150 for reference.) Japan’s ethical pharmaceutical wholesale market is led by four listed groups: Medipal Holdings, Alfresa Holdings, Suzuken and Toho Holdings. In 2023, Alfresa acquired Miyazaki Onsendo Shoten of Isahaya, Nagasaki, and Medipal took full ownership of Tohshichi of Sasebo, Nagasaki, bringing two independent…